Chart Industries (GTLS) Tops Q4 EPS by 11c, Revenues Beat; Raises FY19 EPS/Revenue Guidance
Chart Industries (NASDAQ: GTLS) reported Q4 EPS of $0.61, $0.11 better than the analyst estimate of $0.50. Revenue for the quarter came in at $290.1 million versus the consensus estimate of $281.8 million.
- Closed the acquisition of VRV S.r.l. and the divestiture of CAIRE Medical, the oxygen-related portion of the former BioMedical segment. Therefore, all results in this release are shown on a continuing operations basis and reflect the realigned segmentation implemented in the third quarter 2018.
- Full year 2018 orders of $1,142 million increased 32.6% over 2017 (11.7% organically) reflecting record annual order levels for Europe, packaged gas, and trailers.
- Full year sales of $1,084 million grew 28.6% (13.4% organically) over 2017 with all three segments growing organically.
- Full year SG&A as a percent of sales improved by 470 basis points compared to 2017.
- Fourth quarter 2018 reported EPS of $0.56 (adjusted EPS of $0.61).
- Full year reported EPS of $1.67. Full year adjusted EPS of $2.02 is a 146% increase over 2017 full year adjusted EPS of $0.82.
- Increased 2019 revenue and adjusted EPS guidance. 2019 full year revenue guidance is $1.26 to $1.31 billion (17% to 22% growth or 7% to 9% organic growth) and adjusted EPS guidance is $2.50 to $2.85 (exclusive of any large LNG project revenue) driven by the strength of backlog and orders.
- Strong pipeline of $400 million to $500 million of potential 2019 large LNG related orders.
“Our 2018 order strength and robust start to 2019 across the segments supports our confidence in our increased 2019 sales and adjusted earnings per share guidance,” said Jill Evanko, Chart’s CEO. “In addition, we have potential LNG order opportunities in 2019 totaling $400 million to $500 million that could increase revenues in late 2019 and beyond.”
GUIDANCE:
Chart Industries sees FY2019 EPS of $2.50-$2.85, versus the consensus of $2.70. Chart Industries sees FY2019 revenue of $1.26-1.31 billion, versus the consensus of $1.28 billion.
For earnings history and earnings-related data on Chart Industries (GTLS) click here.